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  • FIRST POST
    • Slippa
    • By Slippa 5th Sep 19, 1:47 PM
    • 6Posts
    • 2Thanks
    Slippa
    Nationwide Blocked funds
    • #1
    • 5th Sep 19, 1:47 PM
    Nationwide Blocked funds 5th Sep 19 at 1:47 PM
    I had recently transferred money online from my nationwide account to a relatives bank account. This was short loan to help them. They eventually transferred me £1000 and change back from their high street branch as they don't do online banking. Nationwide locked my account and blocked all access to my funds a day or two after the transfer, stating the reference number of the transaction appeared suspicious. It was one of the major high street banks done by one of there clerks so I don't get it? They refused to unlock the money in my account until my relative provided them with their bank statement. Even though they were not keen to share their business with a 3rd party they did it for me so that I could get my money and account back. Nationwide said it would take 7 days to sort out. I was frustrated and explained I needed the money asap because it's what I needed to live on as I have no savings. They then said they wanted 3 months of statements so my relative took another bit of time off work so they could get the statements from the bank and resolve my situation faster. We then produced the statements in the nationwide branch, so they could fax it and I'd have proof they received it , we were told it would now take 17 days. Since then it has now become a 30 day review and I am having to rely and borrow of my family so I can eat. I explained the hardship this had put me under to one of their advisers who was patronizing and eventually laughed at me when I explained that "I am not able to cover my rent and other debits and I am falling into debt in the mean time" and "I don't have cattle or grow fruits or vegetables so I have to pay to eat like other people yet you leave me to starve". They have no interest in my well being and have also refuse to downgrade my account on request because I pay fees which they're still entitled to take even though I don't have access to my account. How are they allowed to hold out for so long in this day and age? And to hell with the cashless society if they are allowed to do this kind of thing to people.
Page 1
    • _shel
    • By _shel 5th Sep 19, 1:50 PM
    • 2,369 Posts
    • 4,364 Thanks
    _shel
    • #2
    • 5th Sep 19, 1:50 PM
    • #2
    • 5th Sep 19, 1:50 PM
    I had recently transferred money online from my nationwide account to a relatives bank account. This was short loan to help them. They eventually transferred me £1000 and change back from their high street branch as they don't do online banking. Nationwide locked my account and blocked all access to my funds a day or two after the transfer, stating the reference number of the transaction appeared suspicious. It was one of the major high street banks done by one of there clerks so I don't get it? They refused to unlock the money in my account until my relative provided them with their bank statement. Even though they were not keen to share their business with a 3rd party they did it for me so that I could get my money and account back. Nationwide said it would take 7 days to sort out. I was frustrated and explained I needed the money asap because it's what I needed to live on as I have no savings. They then said they wanted 3 months of statements so my relative took another bit of time off work so they could get the statements from the bank and resolve my situation faster. We then produced the statements in the nationwide branch, so they could fax it and I'd have proof they received it , we were told it would now take 17 days. Since then it has now become a 30 day review and I am having to rely and borrow of my family so I can eat. I explained the hardship this had put me under to one of their advisers who was patronizing and eventually laughed at me when I explained that "I am not able to cover my rent and other debits and I am falling into debt in the mean time" and "I don't have cattle or grow fruits or vegetables so I have to pay to eat like other people yet you leave me to starve". They have no interest in my well being and have also refuse to downgrade my account on request because I pay fees which they're still entitled to take even though I don't have access to my account. How are they allowed to hold out for so long in this day and age? And to hell with the cashless society if they are allowed to do this kind of thing to people.
    Originally posted by Slippa
    Paragraphs are helpful.

    They are allowed to do this under money laundering regulations. In fact they're obliged to do it.
    • Slippa
    • By Slippa 5th Sep 19, 2:01 PM
    • 6 Posts
    • 2 Thanks
    Slippa
    • #3
    • 5th Sep 19, 2:01 PM
    • #3
    • 5th Sep 19, 2:01 PM
    In what way am I money laundering?
    • _shel
    • By _shel 5th Sep 19, 2:12 PM
    • 2,369 Posts
    • 4,364 Thanks
    _shel
    • #4
    • 5th Sep 19, 2:12 PM
    • #4
    • 5th Sep 19, 2:12 PM
    You might not be but that's what they're checking out.
    • Slippa
    • By Slippa 5th Sep 19, 2:18 PM
    • 6 Posts
    • 2 Thanks
    Slippa
    • #5
    • 5th Sep 19, 2:18 PM
    • #5
    • 5th Sep 19, 2:18 PM
    They are saying 30 days minimum before I get any response or action. When we were asked for the bank statements which are a 3rd party source of information for evidence, we supplied that within one hour of each request. Yet it's ok to stall and drag on a genuine transaction for a whole month when they have everything they need to just confirm the transaction. This is disgusting and so is the attitude of their staff who thinks it's funny that someone is struggling to even have the basic need of access to food.
    • eskbanker
    • By eskbanker 5th Sep 19, 2:19 PM
    • 11,397 Posts
    • 14,150 Thanks
    eskbanker
    • #6
    • 5th Sep 19, 2:19 PM
    • #6
    • 5th Sep 19, 2:19 PM
    In what way am I money laundering?
    Originally posted by Slippa
    'Money laundering' is always an emotive term but colsten summed it up nicely to another poster in a recent thread:
    You appear to be unable to distinguish between
    1. an investigation being automatically triggered under AML obligations
    2. a conclusion that money laundering has actually taken place.

    In the OP's case, 1) above has happened. 2) may, or may not, be concluded once the bank's, and possibly the NCA's, investigation has concluded.
    Originally posted by colsten
    • 18cc
    • By 18cc 5th Sep 19, 2:25 PM
    • 1,841 Posts
    • 1,361 Thanks
    18cc
    • #7
    • 5th Sep 19, 2:25 PM
    • #7
    • 5th Sep 19, 2:25 PM
    If everything is as you say then nationwide will unlock your account at some point at which time you can complain to them and ask for compensation - I would ask for £250

    If they dont unlock it then maybe their systems are working and the reference was indeed dodgy in which case you should consider having a word with your relative
    • preable
    • By preable 5th Sep 19, 2:27 PM
    • 2,030 Posts
    • 1,322 Thanks
    preable
    • #8
    • 5th Sep 19, 2:27 PM
    • #8
    • 5th Sep 19, 2:27 PM
    I doubt the adviser laughed at you somehow
    • zx81
    • By zx81 5th Sep 19, 2:28 PM
    • 23,853 Posts
    • 26,544 Thanks
    zx81
    • #9
    • 5th Sep 19, 2:28 PM
    • #9
    • 5th Sep 19, 2:28 PM

    their staff who thinks it's funny that someone is struggling to even have the basic need of access to food.
    Originally posted by Slippa
    I doubt they thought it was funny. It was probably just when you told them that you didn't own any cattle, which is an unusually specific denial.
    • Slippa
    • By Slippa 5th Sep 19, 2:49 PM
    • 6 Posts
    • 2 Thanks
    Slippa
    It's ok I'll just starve and die seems like that's the most appropriate outcome here
    • _shel
    • By _shel 5th Sep 19, 3:30 PM
    • 2,369 Posts
    • 4,364 Thanks
    _shel
    It's ok I'll just starve and die seems like that's the most appropriate outcome here
    Originally posted by Slippa
    Die, not quite. You have absolutely no food in your home? Or can't borrow some money from family to get some?

    I have frozen and cupboard food to last us a few months used wisely!
    • Robin9
    • By Robin9 5th Sep 19, 3:36 PM
    • 4,981 Posts
    • 3,250 Thanks
    Robin9
    Slippa .................... When this is resolved open a second bank account.
    Never pay on an estimated bill
    • Kentish Dave
    • By Kentish Dave 5th Sep 19, 6:20 PM
    • 806 Posts
    • 1,493 Thanks
    Kentish Dave
    You need to get your story straight. You say that you are borrowing money to buy food but then say that you will starve and die.

    Why will you starve and die if you have borrowed money for food?
    • colsten
    • By colsten 5th Sep 19, 6:36 PM
    • 11,055 Posts
    • 10,351 Thanks
    colsten
    In case OP gets deleted:

    I had recently transferred money online from my nationwide account to a relatives bank account. This was short loan to help them. They eventually transferred me £1000 and change back from their high street branch as they don't do online banking. Nationwide locked my account and blocked all access to my funds a day or two after the transfer, stating the reference number of the transaction appeared suspicious. It was one of the major high street banks done by one of there clerks so I don't get it? They refused to unlock the money in my account until my relative provided them with their bank statement. Even though they were not keen to share their business with a 3rd party they did it for me so that I could get my money and account back. Nationwide said it would take 7 days to sort out. I was frustrated and explained I needed the money asap because it's what I needed to live on as I have no savings. They then said they wanted 3 months of statements so my relative took another bit of time off work so they could get the statements from the bank and resolve my situation faster. We then produced the statements in the nationwide branch, so they could fax it and I'd have proof they received it , we were told it would now take 17 days. Since then it has now become a 30 day review and I am having to rely and borrow of my family so I can eat. I explained the hardship this had put me under to one of their advisers who was patronizing and eventually laughed at me when I explained that "I am not able to cover my rent and other debits and I am falling into debt in the mean time" and "I don't have cattle or grow fruits or vegetables so I have to pay to eat like other people yet you leave me to starve". They have no interest in my well being and have also refuse to downgrade my account on request because I pay fees which they're still entitled to take even though I don't have access to my account. How are they allowed to hold out for so long in this day and age? And to hell with the cashless society if they are allowed to do this kind of thing to people.
    Originally posted by Slippa
    • Robin9
    • By Robin9 5th Sep 19, 8:42 PM
    • 4,981 Posts
    • 3,250 Thanks
    Robin9
    Why are we getting these threads for "small" amounts of money - this OP for £1000 and another for about £2000 ?

    Is there something going on with their accounts ? I can't believe that banks are blocking them without a reason other than suspicious
    Never pay on an estimated bill
    • Thrugelmir
    • By Thrugelmir 5th Sep 19, 8:57 PM
    • 64,982 Posts
    • 57,301 Thanks
    Thrugelmir
    [QUOTE=Slippa;76239993]Even though they were not keen to share their business with a 3rd party they did it for me so that I could get my money and account back. Nationwide said it would take 7 days to sort out. I was frustrated and explained I needed the money asap because it's what I needed to live on as I have no savings. They then said they wanted 3 months of statements [ /QUOTE]

    Seems as if there's been unusual activity on their account. The Nationwides systems may have flagged this account up for investigation.
    “If the financial system has a defect, it is that it reflects and magnifies what we human beings are like. Money amplifies our tendency to overreact, to swing from exuberance when things are going well to deep depression when they go wrong. Booms and busts are products, at root, of our emotional volatility.”
    ― Niall Ferguson
    • Ergates
    • By Ergates 5th Sep 19, 10:21 PM
    • 615 Posts
    • 821 Thanks
    Ergates
    Why are we getting these threads for "small" amounts of money - this OP for £1000 and another for about £2000 ?

    Is there something going on with their accounts ? I can't believe that banks are blocking them without a reason other than suspicious
    Originally posted by Robin9
    AML systems can be triggered by relatively small amounts of money because money laundering often involves relatively small amounts of money. The criminals will often break up larger amounts and spread them about to try to detect evasion - which doesn't always work, but will definatley work better than some shadey looking dude walking into a bank with £200,000 in cash in a suitcase.
    • Ergates
    • By Ergates 5th Sep 19, 10:25 PM
    • 615 Posts
    • 821 Thanks
    Ergates
    They are saying 30 days minimum before I get any response or action. When we were asked for the bank statements which are a 3rd party source of information for evidence, we supplied that within one hour of each request. Yet it's ok to stall and drag on a genuine transaction for a whole month when they have everything they need to just confirm the transaction. This is disgusting and so is the attitude of their staff who thinks it's funny that someone is struggling to even have the basic need of access to food.
    Originally posted by Slippa
    Once the anti-money laundering systems are triggered it's out of their hands. They *can't* tell you anything, otherwise they risk up to 5 years (and/or an unlimited fine) in jail for "tipping off".

    It sucks, but it's the law and banks *have* to comply - they don't like it because it upsets their customers. Blame the government, or blame the criminals that make such systems necessary.
    • deadendwaterfall
    • By deadendwaterfall 6th Sep 19, 12:37 AM
    • 205 Posts
    • 70 Thanks
    deadendwaterfall
    Once the anti-money laundering systems are triggered it's out of their hands. They *can't* tell you anything, otherwise they risk up to 5 years (and/or an unlimited fine) in jail for "tipping off".

    It sucks, but it's the law and banks *have* to comply - they don't like it because it upsets their customers. Blame the government, or blame the criminals that make such systems necessary.
    Originally posted by Ergates
    Or, they could emigrate to a country with either no or much laxer anti-money laundering laws.
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